BAKU, Azerbaijan, December 27. The annual rate of Turkmenistan’s GDP growth is expected to accelerate to an average of 2 percent over the next five years, Trend reports via the World Economic League Table (WELT 2023) report of the UK Center for Economics and Business Research (CEBR).
According to the report, Turkmenistan's GDP growth rate will slow down to an average of 1.7 percent per year in the period between 2028 and 2037.
Besides, CEBR forecasted increase of the nominal GDP from $81 billion in 2023 (against $74 billion in 2022) to $91 billion in 2032 and to $109 billion in 2037.
Following a GDP contraction of 3 percent in 2020, the economy of Turkmenistan grew by 4.6 percent in 2021, and, according to the forecasts, it will grow by 1.2 percent in 2022.
As the CEBR forecasted, inflation in the country is expected to equal 17.5 percent in 2022.